Individually rational equal loss principle for bargaining problems

  1. Carmen Herrero Blanco
  2. María del Carmen Marco Gil
Revista:
Working papers = Documentos de trabajo: Serie AD

Año de publicación: 1992

Número: 5

Páginas: 1-38

Tipo: Documento de Trabajo

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Resumen

The purpose of this paper is to provide a new solution concept for bargaining problems, which modifies Chun's Equal-Loss Solution in a way that ensures the individual rationality. We also consider its lexicographic extension which turns out to be both individually rational and Pareto Optimal. Characterizations of the proposed solutions are al so provided.

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